Commission Bancaire issues notice on sociétés de crédit foncier reporting requirement

Olivier Bertin Mourot/Eric Haza, Clifford Chance, Paris

The French Commission Bancaire has issued a notice stating that sociétés de crédit foncier must provide the Commission with an annual report concerning the characteristics of their assets drawn up with data available at the end of each financial year. The report must set out the outstanding secured loans allocated per class of debt, types of counterparties, types of guarantees, outstanding mortgaged loans, outstanding loans granted to or secured by States, local authorities, public establishments, secure and liquid debt securities and prepayments having been made during that financial year.